End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 2 contracts
Samples: Gross Lease (Lightbridge Inc), Gross Lease (Clicksoftware Technologies LTD)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 2 contracts
Samples: Gross Lease (Endurance International Group Holdings, Inc.), Gross Lease (Endurance International Group Holdings, Inc.)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and the Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount amounts determined under clause (a) of this sentence shall be prorated by multiplying each such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes shall be prorated in the manner described in clause (b); (d) the clause (c) amount amounts (i.e., the prorated Operating Costs Base Amount Allocable to the PremisesPremises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes, respectively) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises and the prorated Property Taxes Allocable to the Premises, respectively); (e) if the respective clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term exceeds exceed the respective clause (d) amountamounts, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease). Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 2 contracts
Samples: Lease (Healthgate Data Corp), Lease (Integrated Information Systems Inc)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365the actual number of days in such Year; (c) the Operating Costs Base Amount Amounts Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten thirty (1030) Business Days days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten thirty (1030) Business Day day period described in clause (e) if any proceeds then being held by Landlord under Section 3.3 are otherwise sufficient to compensate Landlord for any default by Tenant is not then in default of any of its obligations under this LeaseLease (if any). Landlord's ’s and Tenant's ’s obligations under this paragraph Section 3.4.5 shall survive the expiration or other termination of this Lease.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) subject to a final reconciliation pursuant to subparagraph 3.4.2 hereof, Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this LeaseLease beyond any applicable notice and cure periods. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 1 contract
Samples: Gross Lease (TNS Inc)
End of Term. If this Lease shall terminate on a day other than the last day Subtenant acknowledges that possession of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises must be surrendered to Sublandlord on the Expiration Date or earlier termination of this Sublease, in the condition required pursuant to Section 4(b), subject to normal wear and Property Taxes Allocable tear, condemnation, and casualty damage. If for any reason Subtenant shall fail to vacate and surrender possession of the Premises for such Year predicated or any part thereof on or before the most recent reliable information available to Landlord; (b) the amount determined under clause (a) expiration or earlier termination of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year Sublease and the denominator Term hereof, then Subtenant’s continued possession of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated as a holdover tenant from month to month, during which time, without prejudice and in addition to any other rights and remedies Sublandlord may have under this Sublease or at law, Subtenant shall pay to Sublandlord for each month and for each portion of any month during which Subtenant holds over an amount equal to one-hundred fifty percent (150%) of the manner described Monthly Base Rent in clause effect immediately prior to such holdover period. In addition, Subtenant hereby agrees to indemnify Sublandlord against and hold Sublandlord harmless from any and all reasonable costs and expenses (b); (dincluding attorney’s fees and other charges) which are paid or incurred by Sublandlord as a result of the clause (c) amount (i.e.failure of, or the prorated Operating Costs Base Amount Allocable to delay by, Subtenant in so surrendering the Premises, including any claims made by Landlord or any succeeding tenant founded on such failure or delay. The provisions of this Section 15 shall not in any way be deemed to (a) shall be deducted from permit Subtenant to remain in possession of the clause Premises after the Expiration Date or sooner termination of this Sublease, or (b) amount (i.e., the prorated Operating Costs Allocable imply any right of Subtenant to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to use or occupy the Premises upon expiration or termination of this Sublease and the Term hereof, and no acceptance by Sublandlord of payments from Subtenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant for Subtenant in accordance with the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant provisions of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its this Section 15. Subtenant’s obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Section 15 shall survive the expiration or other earlier termination of this LeaseSublease.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess (less any amounts then owed by Tenant to Landlord) within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its ). Landlord’s and Tenant’s obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Section 3.4 shall survive the expiration or other termination of this Lease.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. If the last day of the Term falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, other than by reason of any Unavoidable Delay relating solely to the Building, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and/or for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to the greater of (i) one hundred fifty percent (150%) of the Rental which was payable under this Lease during the last month of the Term, and (ii) the then fair market rental value for the Premises; provided, however, that with respect to the period from and after the forty-fifth (45th) day after the Expiration Date, said monthly amount payable by Tenant to Landlord on account of use and occupancy of the Premises shall be an amount equal to the greater of (i) two hundred percent (200%) of the Rental which was payable under this Lease during the last month of the Term, and (ii) the then fair market rental value for the Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. If (i) Tenant fails to deliver exclusive possession of the Premises to Landlord on or prior to the date that is forty-five (45) days after the Expiration Date pursuant to the terms of this Article 20 other than by reason of any Unavoidable Delay relating solely to the Building, or (ii) Tenant defaults in respect of Tenant's obligation to pay the aforesaid fee for use and occupancy of the Premises after the Expiration Date and such default continues for seven (7) Business Days after the date that Landlord gives Tenant notice thereof, then Tenant shall indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from the delay by Tenant in so surrendering the Premises, including, without limitation, (x) any claims made by any succeeding tenant founded on such delay, or (y) any damages sustained by Landlord by reason of Tenant's failure to deliver possession of the Premises to Landlord. The provisions of this Article 20 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (Liveperson Inc)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is an Event of Default has not then in default occurred which has not been cured as of any the termination date of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 1 contract
Samples: Office Lease (Gp Strategies Corp)
End of Term. If In the event of any holding over by Tenant after the expiration or termination of this Lease shall terminate on a day other than lease without the last day consent of a YearLandlord, Tenant shall: (i) pay as use and occupancy for each month of the holdover an amount equal to the greater of (a) Landlord shall estimate the Operating Costs Allocable to fair market rental value of the Premises and Property Taxes Allocable to the Demised Premises for such Year predicated on the most recent reliable information available to month (as reasonably determined by Landlord; ) or (b) one hundred fifty (150%) percent of the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid Rent payable by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable month prior to the Premises paid by Tenant for Expiration Date of the last Year in the Lease Term exceeds the clause (d) amountterm of this lease, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any and otherwise observe, fulfill and perform all of its obligations under this Lease. Landlord's lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any payment or rent concession which Landlord may be required to make to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Demised Premises by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any reasonable attorneys fees and disbursements) as the result of Tenant's obligations under failure to surrender the Demised Premises. Notwithstanding anything contained in this paragraph Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Paragraph 52, shall survive not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the expiration or other termination nature thereof. The provisions of this LeaseParagraph 52 shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State ofNew York and any successor law of like import. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Demised Premises, of a person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.
Appears in 1 contract
End of Term. If Tenant shall surrender the Demised Premises to Landlord at the expiration or sooner termination of the term of this Lease in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall terminate on a day other than remove all of its property there from. Tenant agrees that any personal property remaining in the last day Demised Premises following the expiration of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) term of this sentence Lease (or such earlier date as of which the term hereof may have been terminated) shall for all purposes be deemed conveyed to and to be the property of Landlord who shall be prorated by multiplying free to dispose of such amount by a fractionproperty, the numerator at Tenant’s cost, in any manner Landlord deems desirable. Landlord may retain or assign any salvage or other residual value of which is the number such property. In consideration of days within the Lease Term in Landlord’s disposing of such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e.property, the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall reimburse Landlord or pay the excess to Landlord any cost that Landlord may incur in disposing of such property within ten (10) Business Days days after Landlord's delivery demand therefor. Tenant shall indemnify and save Landlord harmless against all costs, claims, loss or liability resulting from delay of more than sixty (60) days by Tenant in so surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. Additionally, the parties recognize and agree that other damage to Landlord resulting from any failure by Tenant timely to surrender the Demised Premises will be substantial, will exceed the amount of monthly rent theretofore payable hereunder, and will be impossible of accurate measurement. Tenant therefore agrees that if possession of the Demised Premises is not surrendered to Landlord within one (1) day after the expiration or sooner termination of the term of this Lease, then Tenant will pay Landlord the following liquidated damages: (i) for each of the first three months or portion of any of such first three months during which Tenant holds over in the Demised Premises after the expiration or termination of the term of this Lease, a statement for such excesssum equal to one and one-half (1.5) times the average fixed annual rent and additional rent which were payable per month under this Lease during the last six (6) months of the term thereof; and (fii) if for any month or portion of a month after such first three months during which Tenant holds over in the Estimated Operating Costs Allocable Demised Premises after expiration or termination of the term of this Lease, a sum equal to two (2) times the Premises paid by Tenant for average fixed annual rent and additional rent which were payable per month under this Lease during the last Year in six (6) months of the Lease Term exceeds term thereof. The aforesaid obligations shall survive the clause (d) amount, then Landlord shall refund to Tenant expiration or sooner termination of the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default term of any of its obligations under this Lease. Landlord's Anything in this Lease to the contrary notwithstanding, the acceptance of any rent shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an agreement expressly “providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York and any successor law of like import. Tenant expressly waives, for itself and for any person claiming through or under the Tenant's , any rights which the Tenant or any such Person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which the Landlord may institute. Tenant’s obligations under this paragraph shall survive the expiration or other sooner termination of the term of this Lease. At any time during the term of this Lease, Landlord may exhibit the Demised Premises to prospective purchasers, investors or mortgagees of Landlord’s interest therein. During the last year of the term of this Lease, Landlord may exhibit the Demised Premises to prospective tenants. In all such showings, Landlord shall use commercially reasonable efforts to minimize any interference with Tenant’s business operations in the Demised Premises (it being understood and agreed, however, that such showings may take place on Business Days during Business Hours).
Appears in 1 contract
Samples: Lease Agreement (Shutterstock, Inc.)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Section 20.1 Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. If the last day of the Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the Business Day immediately preceding. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have to a "stay" under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Escalation Rent theretofore payable hereunder, and will be impossible to measure accurately. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord within twenty-four (24) hours after the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and other items of Rental which were payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten thirty (1030) Business Days days after Landlord's ’s delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten thirty (1030) Business Day day period described in clause (e) if Tenant is not then in default less the amount of any of its obligations under this Leasesums owed by Tenant to Landlord in accordance herewith. Landlord's ’s and Tenant's ’s obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Amber Road, Inc.)
End of Term. Notwithstanding anything to the contrary contained herein, if a Substantial Casualty occurs within the last thirty (30) months of the end of the existing Term, Tenant may, upon Notice to Landlord given within thirty (30) days of the determination of the amount of insurance proceeds to be received from the insurance carrier with respect to such Substantial Casualty and subject to the provisions of the applicable Third Party Lease, if any, elect to not restore such Property, regardless of whether the insurance proceeds with respect to such Substantial Casualty are sufficient to complete the restoration of the Property in accordance with Section 13.1 hereof. If Tenant so elects not to restore, then the insurance proceeds with respect to such Substantial Casualty shall, subject to the rights of Third Party Lessors, belong entirely to Landlord. If, at the time of such election, Tenant then holds any portion of such insurance proceeds, such proceeds shall, subject to the rights of Third Party Lessors, promptly be paid to Landlord. If Tenant makes such election not to restore, then this Restated Lease shall terminate as to such Property as of the date on a day other than which Landlord or the last day Third Party Lessor, as the case may be, receives the full amount of a Yearthe insurance proceeds to be received from all insurance carriers with respect to such Substantial Casualty, (a) Landlord and such Property shall estimate be deemed deleted from this Restated Lease on such date. Thereupon, Fixed Rent shall be adjusted in accordance with the Operating Costs Allocable Fixed Rent Adjustment Procedures, and the amounts held pursuant to this Restated Lease on account of advanced Real Estate Tax payments pursuant to Article 4 shall be adjusted accordingly. In no event shall any election pursuant to this Section be deemed to grant Tenant any right to delete such Property from this Restated Lease or to any abatement or reduction in Rent or in any way affect Tenant’s obligation to comply with all applicable Law and Environmental Law with respect to such Property until the time at which such Property is deleted from this Restated Lease pursuant to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Leaseforegoing provisions.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage by fire or other casualty or for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of any Requirements in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and for each portion of any month during which Tenant holds over in the Premises after the Expiration Date, a sum equal to two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord's right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. The provisions of this Article 20 shall survive the Expiration Date.
Appears in 1 contract
End of Term. If Section 29.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease shall terminate on a day other than in the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to same condition the Premises and Property Taxes Allocable were in on the date hereof, except for (i) Tenant Improvements not required to be removed by Landlord, provided, however, Tenant shall not be required to remove any Tenant Improvements unless such Tenant Improvements are special or unique to Tenant’s use of the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b“Tenant Specialty Items”); (dii) the clause reasonable wear and tear, and (ciii) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) damage by casualty. Tenant shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to surrender all keys for the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant at the expiration or sooner termination of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. In addition, Tenant shall, if requested by Landlord's , remove specifically designated computer, telephone and Tenant's obligations under this paragraph data cabling servicing the Premises. If Tenant shall survive hold over after the expiration Expiration Date or other termination of this Lease, such holding over shall not be deemed to be a renewal of this Lease but shall be deemed to create a month to month tenancy only and by such holding over Tenant shall continue to be bound by all of the terms and conditions of this Lease, except that during such month to month tenancy Tenant shall pay to Landlord (A) one hundred fifty percent (150%) of the Base Rent payable during the last month of the Term for the first two (2) months of holdover and two hundred percent (200%) of the Base Rent payable during the last month of the Term for the third (3rd) and subsequent months of holdover; and (B) any and all Operating Expenses and other forms of Additional Rent payable under this Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month. Tenant shall indemnify, defend and hold Landlord harmless from and against any claim, damage, loss, liability, judgment, suit, disbursement or expense (including consequential damages and reasonable attorneys’ fees and disbursements) (collectively, “Claims”) resulting from failure to surrender possession upon the Expiration Date or sooner termination of the Term, including any Claims made by any succeeding tenant, and such obligations shall survive the expiration or sooner termination of this Lease.
Appears in 1 contract
Samples: Lease (Cara Therapeutics, Inc.)
End of Term. hereof is hereby amended to add the following: If this Lease shall terminate on a day other than Tenant remains in possession of all or any portion of the last day Demised Premises after the Expiration Date or sooner termination of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then in addition to any other rights or remedies Owner may have hereunder or at law, and without in any manner limiting Owner’s right to demonstrate and collect any damages (excluding consequential damages except as expressly set forth below) suffered by Owner and arising from Tenant’s failure to surrender the Demised Premises as provided herein, Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant Owner as damages for each month or portion of a statement for such excess; and (f) if month during which Tenant holds over in all or any portion of the Estimated Operating Costs Allocable to Demised Premises after the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration Expiration Date or other sooner termination of this Lease, a sum equal to one hundred fifty percent (150%) (which percentage shall be increased, from and after the first thirty (30) days of any holdover, to one hundred seventy-five percent (175%), and, from and after the first sixty (60) days of any holdover, to two hundred percent (200%)) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the Term. Nothing herein contained shall be deemed to permit Tenant to retain possession of all or any portion of the Demised Premises after the Expiration Date or sooner termination of this Lease or to limit in any manner Owner’s right to regain possession of the Demised Premises through summary proceedings, or otherwise, and no acceptance by Owner of payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article. In addition, if such holdover exceeds thirty (30) days, Tenant agrees to indemnify and save Owner harmless from all costs, claims, losses or liability (including consequential damages) resulting from delay by Tenant in surrendering all or any portion of the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The provisions of this Article 40 shall survive the Expiration Date or sooner termination of the Lease. The preceding shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York.
Appears in 1 contract
Samples: Office Lease (Atari Inc)
End of Term. If this Lease shall terminate on a day other than On the last day of a YearExpiration Date, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) or upon any earlier termination of this sentence Sublease, Sublessee shall be prorated quit and surrender the Subleased Premises to Sublessor broom-clean and in as good order, condition and repair as the Subleased Premises existed upon the Commencement Date except for ordinary wear and tear, any restoration of the Subleased Premises not required pursuant hereto, damage or destruction by multiplying fife and other casualty and such amount by a fraction, other damage the numerator repair of which is not Sublessee's obligation hereunder (provided no such damage shall be due to Sublessee's negligence or misconduct), and otherwise in accordance with the number applicable provisions of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable Lease. Anything to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year contrary contained in the Lease Termor this Sublease notwithstanding, then Tenant it is understood and agreed that upon the expiration or termination of this Sublease, Sublessee shall pay not be required to tear down or undo the excess Initial Alterations or any other alterations approved pursuant hereto, including but not limited to Landlord within ten the three (103) Business Days after Landlord's delivery electrical outlets and the electrical circuits installed for the 3 Phase 208 volt electric current needed by Sublessee. Sublessee recognizes that Sublessor may suffer substantial damage if Sublessee fails to Tenant surrender and vacate the Subleased Premises on the Expiration Date. Sublessee, therefore, agrees that if Sublessee shall hold-over or remain in possession beyond the Expiration Date of this Sublease, Sublessee shall in addition to the provisions of Xxxxxxxxx 00 xxxxx, xx liable for all compensatory damages directly related thereto and arising therefrom, including any damages arising out of any lost opportunities ( and/or new leases) in connection with such holding over. All damages to Sublessor by reason of such holding-over by Sublessee may be the subject of a statement for such excess; separate action and need not be asserted by Sublessor in any summary proceeding against Sublessee. Sublessee further agrees to indemnify Sublessor against and from any and all losses, liabilities, damages, costs and expenses (fincluding reasonable attorneys' fees) if Sublessor incurs to dispossess Sublessee, or otherwise, resulting from Sublessee's failure to vacate the Estimated Operating Costs Allocable to Subleased Premises on the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this LeaseExpiration Date. Landlord's and TenantSublessee's obligations under this paragraph Paragraph 17 shall survive the expiration or other termination of this LeaseSublease.
Appears in 1 contract
Samples: Lease (Turbochef Inc)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease.Lease with respect to any portion of the Premises, Tenant shall quit and surrender to Landlord such portion of the Premises, vacant, broom clean, in good order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the portion of the Premises with respect to which the Term is then expiring must be surrendered to Landlord on the Expiration Date. Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys' fees and disbursements) resulting from delay by Tenant in so surrendering such portion of the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender as aforesaid possession of the portion of the Premises the Term with respect to which is then expiring will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder with respect to such portion of the Premises, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the portion of the Premises the Term with respect to which is then expiring is not surrendered to Landlord on the Expiration Date, in addition to any other rights or remedies Landlord may have hereunder or at law (including, without limitation, Landlord's right to terminate this Lease with respect to the entire Premises), and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender such portion of the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of such portion of the Premises for each month and for each portion of any month during which Tenant holds over in such portion of the Premises after the Expiration Date, a sum equal to (i) one and one-half (1.5) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term with respect to such portion of the Premises (other than the Temporary Second Floor Premises) or (ii) Twenty-Five Thousand Four Hundred Sixty-Seven Dollars ($25,467) with respect to any holding over in the Temporary Second Floor Premises. Nothing herein contained shall be deemed to permit Tenant to retain possession of the portion of the Premises the Term with respect to which is then expiring after the Expiration Date or to limit in any manner Landlord's right to regain possession of such portion of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration
Appears in 1 contract
Samples: Lease Agreement (Mony Group Inc)
End of Term. If this Article 22 of the Lease shall terminate on a day other than is hereby amended to add the last day following: In the event that Tenant remains in possession of a Year, (a) Landlord shall estimate the Operating Costs Allocable to Demised Premises after the Premises and Property Taxes Allocable to Expiration Date or sooner termination of the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) term of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease TermLease, then in addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord's right to demonstrate and collect any damages suffered by Landlord and arising from Tenant's failure to surrender the Demised Premises as provided herein, Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant as liquidated damages for each month or portion of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by month during which Tenant for the last Year holds over in the Lease Term exceeds Demised Premises after the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration Expiration Date or other sooner termination of this Lease, a sum equal to one hundred twenty-five percent (125%) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the term hereof for the first thirty (30) days of such holdover, and, thereafter, one hundred fifty percent (150%) of the aggregate of that portion of the Fixed Annual Rent and Additional Rent which was payable under this Lease during the last month of the term hereof. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Demised Premises after the Expiration Date or sooner termination of this Lease or to limit in any manner Landlord's right to regain possession of the Demised Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of the term of this Lease shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article. Tenant agrees to indemnify and save Landlord harmless from all costs, claims, losses or liability resulting from delay by Tenant in surrendering the Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The provisions of this Article 44 shall survive the Expiration Date or sooner termination of the Lease. The preceding shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York.
Appears in 1 contract
Samples: Rider to Lease Agreement (Premier Exhibitions, Inc.)
End of Term. If 12.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease free and clear of all tenants, occupants or persons claiming by, through or under Tenant and in good order and condition, except for reasonable wear and tear and damage by fire or other casualty, and Tenant shall terminate remove all of its personal property, all Specialty Alterations (to the extent such Specialty Alterations are required to be removed 13 pursuant to the provisions of Section 8.01 hereof), and all signage installed or displayed by or on a behalf of Tenant. Tenant shall have no obligation to remove any telephone or data wiring, cabling or equipment at the end of the Term.
12.02 The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender the Premises will be substantial, will exceed the amount of monthly Rent theretofore payable hereunder, and will be impossible of accurate measurement. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord free and clear of all tenants, occupants or persons claiming by, through or under Tenant within one (1) day after the date of the expiration or sooner termination of the Term, then (A)Tenant shall pay Landlord as liquidated damages for each month and for each portion of any month during which Tenant holds over in the Premises after expiration or termination of the Term the product of the Applicable Percentage multiplied by (x) the Fixed Annual Rent which was payable per month under this Lease during the last month of the Term thereof and the average of the Recurring Additional Rent which was payable per month under this Lease during the last six (6) months of the Term thereof and (y) the average Additional Rent other than Recurring Additional Rent which was payable per month under this Lease during the last day six (6) months of a Yearthe Term thereof, and (B) if such holdover continues for more than one hundred eighty (180) days, (a) Tenant shall be liable to Landlord shall estimate for and indemnify Landlord against all costs, claims, loss or liability resulting from such holdover, including, without limitation, against (I) any payment or rent concession which Landlord may be required to make to any tenant obtained by Landlord for all or any part of the Operating Costs Allocable Premises (a “New Tenant”) pursuant to the Premises provisions of the fully executed lease between Landlord and Property Taxes Allocable the New Tenant by reason of the late delivery of space to the Premises New Tenant as a result of Tenant’s holding over and (II) any claim for such Year predicated on the most recent reliable information available to Landlord; damages by any New Tenant and (b) the amount determined under clause (a) of this sentence Tenant shall be prorated by multiplying such amount by a fraction, liable to Landlord for the numerator loss of which is the number benefit of days within the Lease Term in such Year bargain if any New Tenant terminates its lease pursuant to the provisions of the fully executed lease between Landlord and the denominator New Tenant by reason of which is 365; the holding over by Tenant. “Applicable Percentage” means (ci) 150% for the Operating Costs Base Amount Allocable first sixty (60) days of such holdover and (ii) 200% thereafter. If Tenant fails to remove any Specialty Alterations as required in accordance with the terms of Section 8.01(iii), Tenant shall be liable to Landlord for actual lost rent attributable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable time period that it would reasonably take Landlord to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for remove such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this LeaseSpecialty Alterations.
Appears in 1 contract
Samples: Lease Agreement (UiPath, Inc.)
End of Term. 18.1 Upon the expiration or sooner termination of this Sublease (a) Subtenant (and all other occupants) shall vacate and surrender the Sublease Premises, broom clean and in at least as good a condition as it was on the date of this Sublease (except for damage for which Subtenant is not responsible under this Sublease and ordinary wear and tear) and otherwise as may be required by this Sublease, including Section 10.4 of this Sublease, and (b) Subtenant shall remove all of Subtenant’s property.
18.2 If the Sublease Premises are not vacated and surrendered in accordance with this Lease Sublease, on the date required by this Sublease, Subtenant shall terminate on a day other than be liable to Sublandlord for (a) all losses, costs, liabilities and damages which Sublandlord incurs by reason thereof, including reasonable attorneys’ fees, and (b) per diem use and occupancy in respect of the Sublease Premises equal to twice the Rent payable under this Sublease for the last day year of the term (which Sublandlord and Subtenant presently agree is the Rent to which Sublandlord would be entitled, is presently contemplated by them as being fair and reasonable under such circumstances and is not a Yearpenalty). In no event, however, shall this Section be construed as permitting Subtenant (and all other occupants) to remain in possession of the Sublease Premises after the expiration or sooner termination of this Sublease.
18.3 Subtenant’s specifically acknowledges and agrees that if Subtenant holds over in possession of the Sublease Premises beyond the expiration or sooner termination of the Xxxxxxxxx such hold over by Subtenant will constitute a holding over by Sublandlord (as tenant under the Xxxxxxxxx) of the entire Xxxxxxxxx Premises and that, in such a case, (a) Landlord shall estimate the Operating Costs Allocable Sublandlord will be liable for holdover rent and damages with respect to the Premises entire Xxxxxxxxx Premises, and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence Subtenant shall be prorated by multiplying liable to Sublandlord for the entire amount of such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year holdover rent and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable damages with respect to the entire Xxxxxxxxx Premises shall be prorated in (the manner described in clause (b“Xxxxxxxxx Holdover Rent and Damages”); (d) the clause (c) amount (i.e.provided, the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e.however, the prorated Operating Costs Allocable to the Premises); (e) that if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant Subtenant and one or more other subtenants of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Sublandlord holds over beyond the expiration or other sooner termination of this Leasethe Xxxxxxxxx Sublandlord shall be entitled to recover all or any portion of the Xxxxxxxxx Holdover Rent and Damages from Subtenant or from any one or more other subtenants (as Sublandlord shall elect from time to time) so long as Sublandlord shall not recover more than 100% of the Xxxxxxxxx Holdover Rent and Damages in the aggregate from Subtenant and all such other subtenants.
Appears in 1 contract
Samples: Sublease (Tradestation Group Inc)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and the Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount amounts determined under clause (a) of this sentence shall be prorated by multiplying each such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes shall be prorated in the manner described in clause (b); (d) the clause (c) amount amounts (i.e., the prorated Operating Costs Base Amount Allocable to the PremisesPremises on account of Operating Expense, net of Property Taxes and the Base Amount Allocable to the Premises on account of Property Taxes, respectively) shall be deducted from the clause (b) amount amounts (i.e., the prorated Operating Costs Allocable to the Premises and the prorated Property Taxes Allocable to the Premises, respectively); (e) if the respective clause (d) amount exceeds amounts exceed the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises and the Estimated Amount of Property Taxes Allocable to the Premises, respectively, paid by Tenant for the last Year in the Lease Term exceeds exceed the respective clause (d) amountamounts, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 1 contract
End of Term. If In the event of any holding over by Tenant after the expiration or termination of this Lease shall terminate on a day other than lease without the last day consent ofLandlord, Tenant shall: (i) pay as use and occupancy for each month of a Year, the holdover an amount equal to the greater of (a) Landlord shall estimate the Operating Costs Allocable to fair market rental value of the Premises and Property Taxes Allocable to the Demised Premises for such Year predicated on the most recent reliable information available to month (as reasonably determined by Landlord; ) or (b) one hundred fifty (150%) percent of the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid Rent payable by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable month prior to the Premises paid by Tenant for Expiration Date of the last Year in the Lease Term exceeds the clause (d) amountterm of this lease, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any and otherwise observe, fulfill and perform all of its obligations under this Lease. Landlord's lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any payment or rent concession which Landlord may be required to make to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Demised Premises by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any reasonable attorneys fees and disbursements) as the result of Tenant's obligations under failure to surrender the Demised Premises. Notwithstanding anything contained in this paragraph Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Paragraph 52, shall survive not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the expiration or other termination nature thereof. The provisions of this LeaseParagraph 52 shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York and any successor law of like import. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Demised Premises, of a person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten twenty (1020) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten twenty (1020) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this Lease.
Appears in 1 contract
Samples: Lease (United Bancshares Inc /Pa)
End of Term. If On the date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this Lease or by operation of law, and whether on or prior to the Expiration Date, Tenant, at Tenant's sole cost and expense, (i) shall terminate quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and (ii) shall remove all of Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under Tenant from the Demised Premises and the Building, and (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "Other Space") in the Building occupied by Tenant, and restore those portions of the Demised Premises, the Other Space and the Building affected by any such staircases (including, but not limited to, the slabbing over of any openings) to the condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the sale thereof, without waiving Owner's rights with respect to any default by Tenant under the foregoing provisions of this Section. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force, in connection with any holdover summary proceedings which Owner may institute to enforce the foregoing provisions of this Article. If said date upon which the Demised Term shall expire and come to an end shall fall on a Sunday or holiday, then Tenant's obligations under the first sentence of this Section shall be performed on or prior to the Saturday or business day other than immediately preceding such Sunday or holiday. There shall be no holding over by Tenant after the expiration or earlier termination of this Lease and the failure by Tenant to deliver possession of the Demised Premises to Owner shall be an unlawful holdover. During any period in which Tenant so holds over, at Owner's option, the rental value of the Demised Premises, payable from the date immediately following the date on which Tenant was to deliver the Demised Premises to Owner, through and including the last day of a Yearthe calendar month in which Tenant so delivers the Demised Premises, shall be deemed to be equal to the greater of 150% of (a) Landlord shall estimate the Operating Costs Allocable to Fixed Rent payable immediately preceding the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; expiration or earlier termination of this Lease, or (b) the amount determined under clause (a) then fair market rental value of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Demised Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Section shall survive the expiration or other sooner termination of this Leasethe Demised Term.
Appears in 1 contract
Samples: Lease Agreement (GTJ REIT, Inc.)
End of Term. If Section 29.01 Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease shall terminate on a day other than in the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to same condition the Premises and Property Taxes Allocable were in on the date hereof, except for (i) Tenant Improvements not required by Landlord to be removed by Tenant, provided, however, Tenant shall not be required to remove any Tenant Improvements unless such Tenant Improvements are special or unique to Tenant’s use of the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b“Tenant Specialty Items”); (dii) the clause reasonable wear and tear, and (ciii) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) damage by casualty. Tenant shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to surrender all keys for the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant at the expiration or sooner termination of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. In addition, Tenant shall, if requested by Landlord's , remove specifically designated computer, telephone and Tenant's obligations under this paragraph data cabling servicing the Premises. If Tenant shall survive hold over after the expiration Expiration Date or other termination of this Lease, such holding over shall not be deemed to be a renewal of this Lease but shall be deemed to create a month to month tenancy only and by such holding over Tenant shall continue to be bound by all of the terms and conditions of this Lease, except that during such month to month tenancy Tenant shall pay to Landlord (A) one hundred twenty-five percent (125%) of the Base Rent payable during the last month of the Term for the first month of holdover and one hundred fifty percent (150%) of the Base Rent payable during the last month of the Term for the second (2nd) month of the holdover and each subsequent month of holdover; and (B) any and all Operating Expenses and other forms of Additional Rent payable under this Lease. Such month-to-month tenancy may be terminated by Landlord or Tenant effective as of the last day of any calendar month by delivery to the other of notice of such termination prior to the first day of such calendar month (and Tenant shall have no right to hold over after the Lease is so terminated).
Section 29.02 The term “Landlord’s Property” shall mean all fixtures, including those items that may be denominated or characterized as Tenant’s business or trade fixtures, equipment, improvements, appurtenances, and carpeting, attached to or built into the Premises at the Commencement Date, whether or not by or at the expense of Tenant. Alterations made during the Term, and which Landlord has so designated pursuant to Section 10.01, shall be deemed Landlord’s Property. All Landlord’s Property shall be and remain a part of the Premises at the expiration or sooner termination of the Term (without compensation to Tenant) and shall not be removed or replaced by Tenant without the prior written consent of Landlord except for Tenant Specialty Items; and except for items which Landlord has required be removed as a condition to the approval of the plans for any Alternations.
Appears in 1 contract
Samples: Lease Agreement (Microphase Corp)
End of Term. If On the date upon which the Demised Term shall expire and come to an end, whether pursuant to any of the provisions of this Lease or by operation of law, and whether on or prior to the Expiration Date, Tenant, at Tenant's sole cost and expense, (i) shall terminate quit and surrender the Demised Premises to Owner, broom clean and in good order and condition, ordinary wear excepted, and (ii) shall remove all of Tenant's Personal Property and all other property and effects of Tenant and all persons claiming through or under Tenant from the Demised Premises and the Building, and (iii) shall repair all damage to the Demised Premises occasioned by such removal and (iv) shall, at Owner's election, exercisable within six (6) months following the expiration or earlier termination of the Demised Term, remove any private interior staircases in the Demised Premises or connecting the Demised Premises or any part thereof with any other space (referred to herein as the "Other Space") in the Building occupied by Tenant, and restore those portions of the Demised Premises, the Other Space and the Building affected by any such staircases (including, but not limited to, the slabbing over of any openings) to the condition of each which existed prior to the installation of any such staircases, and repair any damage to the Demised Premises, Other Space and the Building occasioned by such removal. Notwithstanding the provisions of subdivision (iv) of the foregoing sentence, in the event Owner does not elect to have removed any such staircase referred to therein, any such staircase shall be and remain the property of Owner at no cost or expense to Owner. Owner shall have the right to retain any property and effects which shall remain in the Demised Premises after the expiration or sooner termination of the Demised Term, and any net proceeds from the sale thereof, without waiving Owner's rights with respect to any default by Tenant under the foregoing provisions of this Section. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force, in connection with any holdover summary proceedings which Owner may institute to enforce the foregoing provisions of this Article. If said date upon which the Demised Term shall expire and come to an end shall fall on a day other than Sunday or holiday, then Tenant's obligations under the last day first sentence of a Year, (a) Landlord this Section shall estimate the Operating Costs Allocable be performed on or prior to the Premises and Property Taxes Allocable to the Premises for Saturday or business day immediately preceding such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this LeaseSunday or holiday. Landlord's and Tenant's obligations under this paragraph Section shall survive the expiration or other sooner termination of this Leasethe Demised Term.
Appears in 1 contract
Samples: Lease Agreement (United States Financial Group Inc /Ny)
End of Term. If In the event of any holding over by Tenant after the expiration or termination of this Lease shall terminate on a day other than lease without the last day consent of a YearLandlord, Tenant shall: (i) pay as use and occupancy for each month of the holdover an amount equal to the greater of (a) Landlord shall estimate the Operating Costs Allocable to fair market rental value of the Premises and Property Taxes Allocable to the Demised Premises for such Year predicated on the most recent reliable information available to month (as reasonably determined by Landlord; ) or (b) one hundred fifty (150%) percent of the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid Rent payable by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable month prior to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amountExpiration Date ofthe term of this lease, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any and otherwise observe, fulfill and perform all of its obligations under this Lease. Landlord's lease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any payment or rent concession which Landlord may be required to make to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Demised Premises by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any reasonable attorneys fees and disbursements) as the result of Tenant's obligations under failure to surrender the Demised Premises. Notwithstanding anything contained in this paragraph Paragraph to the contrary, the acceptance of any Rent or use and occupancy paid by Tenant pursuant to this Paragraph 52, shall survive not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the expiration or other termination nature thereof. The provisions of this LeaseParagraph 52 shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York and any successor law of like import. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Demised Premises, of a person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.
Appears in 1 contract
End of Term. If this Lease shall terminate on a day other than the last day of a Lease Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises (the “Estimated Operating Costs Allocable to the Premises”) and the Property Taxes Allocable to the Premises (the “Estimated Property Taxes Allocable to the Premises”) for such Lease Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Lease Year and the denominator of which is 365360; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (db) amount exceeds the Estimated Operating Costs Allocable to the Premises or Estimated Property Taxes Allocable to the Premises paid by Tenant for the last Lease Year for the in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's ’s delivery to Tenant of a statement for such excess; and (fd) if the Estimated Operating Costs Allocable to the Premises or Estimated Property Taxes Allocable to the Premises paid by Tenant for the last Lease Year in the Lease Term exceeds the clause (db) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (ec) if Tenant is not then in default of any material obligation under this Lease beyond the expiration of its obligations any applicable notice and cure period under this Lease. Landlord's ’s and Tenant's ’s obligations under this paragraph Section shall survive the expiration or other termination of this Lease.
Appears in 1 contract
Samples: Lease (Kitara Media Corp.)
End of Term. If this Lease shall terminate on a day other than the last day of a Year, (a) Landlord shall estimate the Operating Costs Allocable to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive Upon the expiration or other termination of this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant, broom clean, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted, and otherwise in compliance with the provisions of Article 3 hereof. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the foregoing provisions of this Article 20. Tenant acknowledges that possession of the Premises must be surrendered to Landlord on the Expiration Date. If the Premises are not surrendered by the date that is sixty (60) days after the Expiration Date, Tenant agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including, without limitation, attorneys’ fees and disbursements) resulting from delay by Tenant to so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises as aforesaid will be extremely substantial, will exceed the amount of the monthly installments of the Fixed Rent and Rental theretofore payable hereunder, and will be impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not surrendered to Landlord on the Expiration Date, to addition to any other rights or remedies Landlord may have hereunder or at law, and without in any manner limiting Landlord’s right to demonstrate and collect any damages suffered by Landlord and arising from Tenant’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord on account of use and occupancy of the Premises for each month and/or for each portion of any month during which Tenant holds over to the Premises after the Expiration Date, a sum equal to one (1) and one-half (½) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term for the first thirty (30) days of such holdover and two (2) times the aggregate of that portion of the Fixed Rent, Escalation Rent and Rental which was payable under this Lease during the last month of the Term thereafter. Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or to limit in any manner Landlord’s right to regain possession of the Premises through summary proceedings, or otherwise, and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 20. Notwithstanding the foregoing, Tenant shall not be deemed to be holding over on a floor that is not physically occupying, has removed all of Tenant’s Property, and with respect to which it has surrendered possession to Landlord if the leasing of such floor is not being interfered with or prevented by Tenant’s holding over on any other floor in the Premises or the First Offer Space or First Offer Storage Space, as the case may be, and if the commencement date of the term of such floor is not delayed or otherwise affected by such holding over on any other floor in the Premises or the First Offer Space or First Offer Storage Space, as the case may be. The provisions of this Article 20 shall survive the Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (Coty Inc /)
End of Term. If In the event of any holding over by Tenant after the expiration or termination of this Lease shall terminate on a day other than lease without the last day consent of a YearLandlord, Tenant shall: (i) pay as use and occupancy for each month of the holdover an amount equal to the greater of (a) Landlord shall estimate the Operating Costs Allocable to fair market rental value of the Premises and Property Taxes Allocable to the Demised Premises for such Year predicated on the most recent reliable information available to month (as reasonably determined by Landlord; ) or (b) one hundred fifty (150%) percent of the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid Rent payable by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable month prior to the Premises paid by Tenant for Expiration Date of the last Year in the Lease Term exceeds the clause (d) amountterm of this lease, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any and otherwise observe, fulfill and perform all of its obligations under this Leaselease, including, but not limited to, those pertaining to payment of one hundred percent (100%) of the additional rent due hereunder, in accordance with its terms; (ii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any payment or rent concession which Landlord may be required to make to any tenant in order to induce such tenant not to terminate an executed lease covering all or any portion of the Demised Premises by reason of the holdover by Tenant; and (iii) if such holdover lasts longer than sixty (60) days, be liable to Landlord for any damages suffered by Landlord (including any reasonable attorneys fees and disbursements) as the result of Tenant’s failure to surrender the Demised Premises. Landlord's Notwithstanding anything contained in this Paragraph to the contrary, the acceptance of any Rent or use and Tenant's obligations under occupancy paid by Tenant pursuant to this paragraph Paragraph 52, shall survive not preclude Landlord from commencing and prosecuting a holdover or eviction action or proceeding or any action or proceeding in the expiration or other termination nature thereof. The provisions of this LeaseParagraph 52 shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York and any successor law of like import. No holding over by Tenant after the Term shall operate to extend the Term. The holdover, with respect to all or any part of the Demised Premises, of a person deriving an interest in the Demised Premises from or through Tenant, including, but not limited to, an assignee or subtenant, shall be deemed a holdover by Tenant.
Appears in 1 contract
Samples: Assignment and Assumption of Lease Agreement (Standard Microsystems Corp)
End of Term. (a) Sublessee acknowledges that possession of the Subleased Premises must be surrendered to Sublessor on the Expiration Date or the earlier termination of this Sublease, in the same condition required under this Sublease and the Prime Lease. Sublessee shall remove all of its personal property and personal effects of all persons claiming through or under Sublessee, and shall pay the cost of repairing all damage to the Subleased Premises and the Building occasioned by such removal. Any of Sublessee’s personal property that remains in the Subleased Premises after the termination of this Sublease shall be deemed to have been abandoned and either may be retained by Sublessor as its property or may be disposed of in such manner as Sublessor may see fit If this Lease such property or any part thereof is sold, Sublessor may receive and retain the proceeds of such sale as the property of Sublessor. Any expense incurred by Sublessor in removing or disposing of such property, as well as the cost of repairing all damage to the Building or the Subleased Premises caused by such removal, shall terminate be reimbursed to Sublessor by Sublessee, as Additional Rent, on demand.
(b) If the Expiration Date falls on a day other than the last day of which is not a Yearbusiness day, (a) Landlord then Sublessee’s obligations under this Section 17 shall estimate the Operating Costs Allocable be performed on or prior to the Premises and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; immediately preceding business day.
(c) Sublessee expressly waives, for itself and for any person claiming through or under Sublessee, any rights that Sublessee or any such person may have under the Operating Costs Base Amount Allocable provisions of Section 2201 of the New York Civil Practice Law and Rules and of any similar or successor law oflilce import then in force in connection with any holdover proceedings that Sublessor may institute to enforce the provisions of this Section 17. If Sublessee shall remain in possession of the Subleased Premises after the Expiration Date, without the execution by both Sublessee and Sublessor of a new sublease, Sublessee, at the election of Sublessor, shall be prorated in deemed to be occupying the manner described in clause (b); (d) Subleased Premises as a Sublessee from month-to-month, at a monthly rental equal to two times the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for Fixed Rent and Additional Rent payable during the last Year in month of the Lease Term, then Tenant shall pay subject to all the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; other conditions, provisions and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph shall survive the expiration or other termination of this LeaseSublease insofar as the same are applicable to a month-to-month tenancy. In addition, Sublessee shall indemnify and hold harmless Sublessor for, from and against any and all liabilities, losses, obligations, damages, penalties, claims, costs and expenses (including, without limitation, reasonable attorneys’ fees and other charges) which are paid, suffered or incurred by Sublessor as a result of the failure of, or the delay by, Sublessee in so surrendering the Subleased Premises, including, without limitation, any claims made by Landlord or any succeeding tenant founded on such failure or delay.
Appears in 1 contract
End of Term. If ABANDONED PROPERTY; HOLDOVER Upon the expiration or other termination of the Term of this Lease Sublease, Sublessee shall terminate on a day other than peaceably quit and surrender to Sublessor the last day Sublease Premises and all alterations and additions thereto which Sublessee is not entitled or required to remove under the provisions of a Yearthis Sublease, broom-clean, in good order, repair and condition (a) Landlord shall estimate the Operating Costs Allocable to the Premises extent of Sublessee's repair and Property Taxes Allocable to the Premises for such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to the Premises shall be prorated in the manner described in clause (b); (d) the clause (c) amount (i.e., the prorated Operating Costs Base Amount Allocable to the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its maintenance obligations under this LeaseSublease) excepting only reasonable use and wear and tear and damage by fire or other casualty for which, under other provisions of this Sublease, Sublessee has no responsibility of repair or restoration. LandlordSublessee's and Tenant's obligations under obligation to observe or perform this paragraph covenant shall survive the expiration or other termination of the Term of this Lease.Sublease. If the last day of the Term of this Sublease or any renewal thereof falls on a day other than a Business Day, this Sublease shall expire on the Business Day immediately preceding. Any personal property in which Sublessee has an interest which shall remain in the Building or on the Sublease Premises after the expiration or termination of the Term of this Sublease shall be conclusively deemed to have been abandoned, and may be disposed of in such manner as Sublessor may see fit. Notwithstanding the foregoing, Sublessee will, upon request of Sublessor made not later than 30 days after the expiration or termination of the Term hereof, promptly remove from the Building any personal property or, if any part thereof shall be sold, then Sublessor may receive and retain the proceeds of such sale and apply the same, at its option, against the expenses of the sale, the cost of moving and storage, any arrears of Rent payable hereunder by Sublessee to Sublessor and any damages to which Sublessor may be entitled under Article 15 hereof or pursuant to law, with the balance if any, to be paid to Sublessee. In the event of holding over by Sublessee after expiration or other termination of this Sublease, occupancy of the Sublease Premises subsequent to such termination or expiration shall be that of a tenancy at sufferance and in no event for month-to-month or year-to-year,
Appears in 1 contract
End of Term. If Section 23.1 Upon the expiration or earlier termination of this Lease Lease, Tenant shall terminate on a day other than quit and surrender to Landlord the last day Premises broom-clean and in good condition, ordinary wear and tear excepted. Tenant shall remove all of a Year, (a) Landlord its property and shall estimate the Operating Costs Allocable repair all damage to the Premises and Property Taxes Allocable to or the Premises for Building occasioned by such Year predicated on the most recent reliable information available to Landlord; (b) the amount determined under clause (a) of this sentence shall be prorated by multiplying such amount by a fraction, the numerator of which is the number of days within the Lease Term in such Year and the denominator of which is 365; (c) the Operating Costs Base Amount Allocable to removal. Any prope1ty not removed from the Premises shall be prorated deemed abandoned by Tenant and may be disposed of in the any manner described in clause (b); (d) the clause (c) amount (i.e.deemed appropriate by Landlord, the prorated Operating Costs Base Amount Allocable cost of the removal and repairs occasioned by such removal to be at Tenant’s expense. Tenant’s obligations to observe or perform the Premises) shall be deducted from the clause (b) amount (i.e., the prorated Operating Costs Allocable to the Premises); (e) if the clause (d) amount exceeds the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term, then Tenant shall pay the excess to Landlord within ten (10) Business Days after Landlord's delivery to Tenant terms of a statement for such excess; and (f) if the Estimated Operating Costs Allocable to the Premises paid by Tenant for the last Year in the Lease Term exceeds the clause (d) amount, then Landlord shall refund to Tenant the excess within the ten (10) Business Day period described in clause (e) if Tenant is not then in default of any of its obligations under this Lease. Landlord's and Tenant's obligations under this paragraph Paragraph shall survive the expiration or other earlier termination of this Lease. Tenant expressly waives, for itself and for any person claiming through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules and any similar successor law of the same import then in force, in connection with any holdover proceedings which Landlord may institute to enforce the provisions of this Article XXIII.
Section 23.2 If Tenant remains in possession of the Premises after expiration of the Term, or after any permitted termination of the Lease by Landlord, with Landlord’s acquiescence and without any written agreement between the parties, Tenant shall be a tenant at sufferance and such tenancy shall be subject to all the provisions hereof, except that the monthly Base Rent for said holdover period shall be one hundred fifty percent (150%) the amount of Base Rent due in the last full month of the Term, and Tenant shall pay I/12th of the previous year’s charges for all Additional Rent for each hold-over month. There shall be no renewal of this Lease by operation of law. Nothing in this Section shall be construed as a consent by Landlord to the possession of the Premises by Tenant after the expiration or earlier termination of the Term. In the event of any unauthorized holder-over, Tenant shall indemnify and hold harmless Landlord against all claims for damages by any other tenant to whom Landlord may have leased all or any part of the Premises effective upon the termination of this Lease. Anything in this Article to the contrary notwithstanding, the acceptance of any rent paid by Tenant pursuant to this Article XXIII shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-C of the Real Prope1ty Law of the State of New York and any successor law of like import.
Section 23.3 On or before the first day of the thirtieth month following the Commencement Date, either xxxxx hereto may, at any time, provide notice. of its intent to terminate this Lease early for any reason including for its convenience. Tenant’s ability to provide such notice is subject to it being in compliance with all of its obligations hereunder, and there being no then-current uncured default under Article XVI hereof. Such notice shall be in writing and may or may not specify a reason for the early termination. If notice is given, the early termination date shall be the first day of the thirty sixth month following the Commencement Date (the “Early Termination Date”). If Tenant chooses, in its discretion to specify a reason for its early termination, Landlord shall have thirty days in which to remedy or propose a remedy and to propose a schedule of implementation of the remedy which may or may not be accepted in the sole discretion of Tenant. In the event that Tenant elects to terminate this Lease early for reason unrelated to Landlord’s default hereunder, Tenant shall be responsible for the unamortized costs Landlord’s Work and leasing commissions.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Brooklyn ImmunoTherapeutics, Inc.)